Potentially yes. They made $18.6m in revenue Q1 2021, and margins are about 84%, so if we take that as is, we are talking $62m profit this year. On the current MCAP it seems cheap.
Then again if we compare against competitors:
||£ 3.63 million (US $ 5 million)
||£ 1 billion ($ 1.44 billion)
||$ 4 billion
||$ 2.4 million
||$ 4.77 billion
It is more as if this UK stock is being valued on the LON exchange more akin to traditional stocks, whereas the other companies in the table have much higher P/E ratios as tech stocks can have a lot of forward potential priced in. If people are looking for indirect exposure to the ecosystem, it looks a solid choice.
They have 599 coins in the bank, and growing quickly.